Andrew Jackson and the Jews

I have been reading Jon Meacham’s biography of Andrew Jackson, “American Lion.”  In discussing Jackson’s campaign to close Nicholas Biddle’s Second Bank of the United States, he quotes a paper written by Jackson stating his reasons for closing the bank:

“The divine right of kings and the prerogative authority of rulers have fallen before the intelligence of the age,” Jackson said, continuing:

Standing armies and military chieftains can no longer uphold tyranny against the resistance of public opinion. The mass of the people have more to fear from combinations of the wealthy and professional classes— from an aristocracy which through the influence of riches and talents, insidiously employed, sometimes succeeds in preventing political institutions, however well adjusted, from securing the freedom of the citizen.… The President has felt it his duty to exert the power with which the confidence of his countrymen has clothed him in attempting to purge the government of all sinister influences which have been incorporated with its administration.  (From Meacham, Jon (2008-11-04). American Lion: Andrew Jackson in the White House (Kindle Locations 5497-5501). Random House Publishing Group. Kindle Edition.)

Nicholas Biddle was not Jewish, but I think Jackson’s concern about the aristocracy of wealthy and professional classes applies today.  The majority of this aristocracy is not Jewish, but a disproportionate percentage is.  Jews make up a high percentage of the richest people in the United States and of members of the Senate, for example.  Jews are also disproportionately represented in the government, sometimes as cabinet secretaries, but more often just below the secretaries as deputies, under secretaries, or assistant secretaries.   They are immensely influential in the financial and banking industry.  The chairmen or women of the Federal Reserve Bank have all been Jews since Paul Volcker was appointed in 1979.  It is almost as if there is an ethnicity test to be Fed chair.  

Everybody points out the similarities between Andrew Jackson and Donald Trump  Both were sort of rough hewn outsiders to politics.  Born poor, Jackson broke a line of six genteel Presidents, all connected to the founding of the United States and born in Virginia or Massachusetts, starting with Washington and ending with John Quincy Adams.  

In Jackson's time there were few Jews in America, but there were still bankers who were part of the disliked “aristocracy” or establishment, even then, who were the targets of Jackson’s anger.  Jackson’s main antagonist, Nicholas Biddle, came from an aristocratic Philadelphia family; he had relatives who had distinguished themselves in the Revolutionary War and early American politics.  Jackson felt that the bank was the enemy of the common man, while it had favored the American aristocracy.  Thus, he aimed to destroy the Second Bank of the United States and distribute its assets to smaller banks scattered around the country and presumably more in touch with ordinary people.  

The Bank of the US was more like an ordinary regional bank of today that handled the government’s accounts than today’s Federal Reserve Bank, but also performed some regulatory functions like the Fed.  The Bank of the US issued its own paper money, and stimulated or retarded the economy by loosening or tightening credit.  Prior to Biddle’s administration it was blamed for credit bubbles and recessions.  

Wikipedia says that under Biddle the bank was doing its regulatory job pretty well, but the public still disliked it as an aristocratic institution and still blamed it for past financial problems.  In this, it was not unlike the Fed and Wall Street today, which are perceived as aristocratic institutions oppressing ordinary people.  Today, because of the dominance of Jews in the financial system, from Wall Street, to the US Department of the Treasury, to the Federal Reserve.  Again, it is arguable that they have done a relatively good job of handling the economy, except for the Great Recession 2008 and the huge rise in income inequality in the last few decades.  The fact that no senior bankers were prosecuted for their roles in the Great Recession contributed to the perception that they were part of an aristocracy that was above the law.  Obama’s Democratic administration, which should have represented the common man, instead licked Wall Street’s boots, while the Fed bailed out the big  banks, but did almost nothing for the regular people who lost their houses or their savings.  This unfortunately creates the image that Jews are oppressing ordinary Americans.  America appears to keep humming along, except that the Jews keep getting richer and richer, while ordinary people get poorer, so much poorer that ordinary white people are resorting to opiates to escape the current situation.  

Of course, white people bear a lot of blame for the situation they find themselves in, but because there is a large group of Jews who appear so greedy and heartless, Jews open themselves up to being the target of white discontent.  To characterize all Jews as greedy and heartless is unfair to many ordinary Jews, who are not rich or famous because they are just ordinary people going about ordinary lives.  But because these elite Jews are so easily identifiable, they do a disservice to their fellows by appearing in an unfavorable light.  Einstein was a Jew, but so is most of Wall Street.  And so is Bernie Sanders, who is trying to rein in the excesses of Wall Street, and thus would probably have been an ally of Andrew Jackson in the attack of the Second Bank of the US on behalf of the ordinary citizens of the US.  .